According to reports from undisclosed sources, Goldman Sachs Group is set to commence a significant round of layoffs across the company this week in anticipation of challenging economic conditions. While Goldman Sachs has declined to comment on the matter, sources indicate that the job cuts could exceed 3,000. Bloomberg News has reported an estimated reduction of about 3,200 positions.
The layoffs are expected to impact various divisions of the bank, with a particular focus on Goldman Sachs’s investment banking division. The institutional banking sector has experienced a notable slowdown in corporate deals amid volatile global financial markets.
Additionally, there are indications that hundreds of jobs may be cut from Goldman Sachs’ consumer business, particularly following adjustments to its plans for the direct-to-consumer unit, Marcus. This restructuring aligns with the bank’s efforts to address challenges and optimize its operations in response to evolving market conditions.
INDIA ABROAD NEWS is multi-platform news and information media broadcast company. Every year, we deliver world-class journalism to more than 10 million world’s most influential audiences in over 150 countries, who want to stay up-to-date with all that is happening in the world. Whether it’s News, Sports, Money, Politics, or Entertainment, we drive an imperative conversation every day on every platform.
© Copyright by INDIA ABROAD NEWS (A Digital Media Brand owned by AMAZON MEDIA LLC).